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Message: Houston Lake Mining Extends the Dogpaw MineralizedZone’s Strike Length of
Gold Mineralization to 367m From Extending Channel Sampling at Vein 4 on the West Cedartree Gold Project
.Houston Lake Mining Inc. (TSX.V: HLM) (Pink Sheets: HLKMF), is an advanced exploration company which has prospected and strategically acquired gold, rare metals and platinum group elements projects with the objective of transitioning into production. HLM is pleased to provide assay results from new channel sampling over the No. 4 Vein extension on its Dogpaw Lake Property. Dogpaw is one of eight contiguous properties forming the Company’s West Cedartree Gold Project near Kenora.
Extensive trenching, washing, and channel sampling on the historical high grade Dogpaw Lake Property has occurred this past summer. The target areas for the program were based on grab sample results that HLM obtained from a regional prospecting program during the spring of 2011. The new channel samples were taken in the vicinity of previous trenches 1, 2, 3, 4, 5, 6, 11, 32, 33 and the Darby Shear Zone (DSZ).
“The No. 4 Vein represents the strike extension of the high grade Dogpaw gold resource based on the previous drilling of No. 1 and No.2 veins. We are seeking the high grade ounce potential that Dogpaw represents that could economically justify production on the project,” said Henry Kloepper, CEO. “These results extend potential mineralization to approximately 367m of strike length. Furthermore, surface work accomplished on the No. 3 Vein to the northeast has revealed a quartz carbonate alteration zone close to the same volcanic and intrusive contact as the No. 1, 2 and 4 veins and suggests a possible strike length of 685m.” said Trevor R. Walker, President. “Further channel samples from Vein No. 3 and others on the property have been sent to the laboratory and results are pending.”
The results ranged from trace to 4.08 grams per tonne gold over 0.35 meters, in the No. 4 Vein Extension. The following table shows the results and location of all samples >1.0 grams per tonne gold.
Table 1. Summer 2011 No. 4 Extended Vein Channel Sample Results - Main Trend
|Channel Sample Line / Orientation||Length (m.)||Gold (g/mt.)||Length (ft.)||Gold (oz./st.)|
|4 –Southwest-Northeast (SW-NE)||2.38||2.18||7.81||0.06|
|6 – SW-NE||1.10||1.84||3.61||0.05|
|8 – SW-NE||0.35||4.08||1.15||0.12|
A total of 93 channel samples have been reported on No. 4 vein and range from trace to 18.96 g/mt gold (0.55 oz/st gold). Previous sampling under line 12 had the best intercept of 4.31 g/t gold over 5.50 metres (0.13 oz./st gold over 18.04 ft.).
The No. 4 Vein is interpreted to be the northeastern extension of the No. 1 Vein and while the No. 2 Vein forms its south-western extension. Together, the No. 1, No. 2 and No. 4 Veins comprise a single gold mineralizing system that has been traced for over 367 metres (1,204 ft.) along strike and to a depth of 230 metres (755 ft.). A historic mineral resource estimate of 53,741 metric tonnes grading 15.43 g/mt Au (59,240 short tons grading 0.45 oz/st Au) was estimated for the No. 1 Zone in 1944 by Noranda Minerals. Systematic drilling of the No. 4 Vein has been independently recommended as a prelude to an updated resource calculation encompassing the Dogpaw gold mineralizing system.
About the Dogpaw Lake Property
The Dogpaw Lake Property has an extensive exploration history dating back to the 1940’s. Four main gold zones and ten documented gold occurrences have been discovered thus far on the property. A historic resource estimate, by Noranda in 1944, of 53,741 metric tonnes grading 15.43 g/t Au (59,240 short tons grading 0.45 oz/st Au) remains after the extraction of a 454 metric tonne (500 short ton) bulk sample grading 8.23 g/t Au (0.24 oz/t Au) from Vein 1. A qualified person as defined under NI 43-101 has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Houston Lake is not treating the historical estimates as current mineral resources or mineral reserves as defined in NI 43-101 and the historical estimate should not be relied upon.
HLM has drilled approximately 7000m to test veins 1 and 2, where a mineralized strike length of 270m has been encountered up to a depth of 230m. A 3D geochem model can be viewed on page 13 of the Investor Presentation which can be downloaded from the HLM homepage at www.houstonlakemining.com. The mineralized system remains open to the northeast and at depth. The best intercept was drilled in Vein 1 by hole DP-2007-42 where it intersected 7.5m of 29.9g/t gold.
All samples reported were shipped to Accurassay Laboratories, an ISO accredited facility, in Thunder Bay, Ontario. Samples were analyzed by fire assay utilizing 30-50 gram charges. All samples were assayed with an AA finish and those samples assaying above 3 g/mt gold are retested utilizing a gravimetric finish.
The tonnages, grades, assays and other technical data are taken from historical records prior to the implementation of NI 43-101. While the data are believed to have been acquired, processed and disclosed by persons believed to be technically competent, it is unverifiable at present.
A qualified person as defined under NI 43-101 has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves. Houston Lake is not treating the historical estimates as current mineral resources or mineral reserves as defined in NI 43-101 and the historical estimate should not be relied upon.
Cliff Duke, P. Eng., an independent consulting geological engineer, is the Qualified Person under the guidelines of NI 43-101 for the technical aspects of this news release.
About Houston Lake Mining Inc.
Houston Lake is an advanced, vertically integrated resource exploration company. The Company is actively exploring for gold, platinum group metal and rare metal deposits in Northwestern Ontario with a strategic focus on the West Cedartree Gold Project. Houston Lake’s objective is to become a gold producer by surface mining its West Cedartree gold project and developing its 100% owned and optioned properties. The Company has a total of 49,532,637 common shares issued and outstanding. For additional information, please visit us at www.houstonlakemining.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This release includes certain statements that may be deemed “forward-looking statements”. All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company’s registered filings what are available at www.sedar.com.
Source: Business Wire (September 19, 2011 - 1:00 PM EDT
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